“So the gap between the haves and the have nots is essentially getting bigger.

“When Middlesbrough were relegated their revenue was 10 times more than the team that finished bottom of the Championship – they had no chance of promotion. “

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“The gap between the haves and the have nots is essentially getting bigger”

Football finance expert Rob Wilson

Premier League parachute payments have increased as TV deals worth billions have also shot up.

Mr Wilson said top flight clubs are also becoming cleverer in how they spend this cash.

He said: “The payments were originally intended to cover wages of clubs who had committed themselves to outgoings.

“But they are cleverer drawing up contracts now and are using it for transfer acquisitions not wages.”

Problems will arise for clubs who have no parachute payment if they spend big and don’t get to the Premier League.

It’s only one season,” Mr Wilson said.

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“If it works you get promoted and the Premier League prize and TV revenue comfortably covers the outlay.

“Sheffield Wednesday spent heavily for two seasons to try to get promoted but they failed.

“This means they are going to be forced to have a lean summer this time.”

He argued it could take effectively three or four years before clubs can spend big on transfer fees again.

Deloitte, in its 2018 annual review of football finance, said: “While we have suggested that the changing dynamics of the Championship may promote greater stability in the future, the reality is that it may take some time until this translates to many clubs being able to operate independently of the financial backing of their owners.”

Mr Wilson added that unless FFP rules are relaxed a bit, fans could be turned away by the leagues becoming too predictable.